John R. Houk, Blog Editor
© March 24, 2023
SO … If you read or actually follow what I post, you are probably aware that I am a cantankerous Senior Citizen (considered Disabled until I reached 66, so now the government arbitrarily re-classified me as retired) Christian-Conservative-Patriot. Which more than likely places a special label on my head by the Dem-Marxist Coup power-usurping government rulers as extremist domestic terrorist. EVEN THOUGH that is a lie since unlike Dem-Marxists and their paramilitary comrades (Antifa & BLM) I do NOT participate in violence. I do preach PEACEFUL resistance and non-compliance to tyranny.
Now that the Dem-Marxists have shorn up their grip on the apparatus of law enforcement and have essentially purged the U.S. Military of Constitutional Conservatives, those tools of power undoubtedly view me as an enemy of the State.
With those thoughts in mind, in these current days of Dem-Marxist Oligarchic Elitism ignore the Constitution, I am uncertain if my dwindling financial support (though readership seems steady statistically) is due to blacklisting, shadow banning, complacent ambivalence or some odd combination of all of the above.
ERGO, today’s poking the stick in the tyrant’s eye sharing is a combination of Dr. Ileana Johnson Paugh’s “The Depraved New World and Technocracy”; an email of from Brandon Smith of The Bob Livingston Letter (‘To gain total power, the establishment has to make freedom and truth “dangerous”’); a David Kupelian email (which really reads as a support WND email) entitled “America’s elites finally reveal their most hated enemy: Christians”; and then a Greg Reese roughly 5-minute video offering a brief history of the use of money – U.S. history to Central Bank Digital Currencies (CBDC) Global Tyranny – entitled “INSIDE THE ECONOMIC RESET” (H/T The Reese Report Substack).
After watching the Reese video I felt an imperative to share information on the probable stranglehold of controlling every aspect of a person’s life the government will possess with the implementation of CBDC cashless society. If you thought COVID/Medical Tyranny was an intrusion on Liberty, a CBDC controlled society will make COVID/Medical Tyranny look like a short walk in a 15-Minute City park.
- Federal Reserve announces July launch of central bank digital currency infrastructure: A financial expert has warned that FedNow lays out the foundation for a central bank digital currency by centralizing all participating banks under the Federal Reserve; By Emily Mangiaracina; LifeSiteNews; 3/17/23 1:59 pm EDT
- The World’s Largest CBDC Trial: A Preview of the Elite’s Cashless Vision for You; By Nick Giambruno; The Burning Platform; 3/21/23
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The Depraved New World and Technocracy
Who is going to save this Republic from implosion?
March 23, 2023
United Nations has become a very powerful organization that yields a lot of power among globalists, including billionaire Americans who give to its causes dear to their hearts. The majority of U.N.’s funding comes from American taxpayers and they are either blissfully ignorant of what the U.N. is doing to our country or are actually supporting the United States’ demise.
The United Nations has been able to impose over the years the globalist Agenda 21/2030 by using the lynchpin Sustainable Development’s 17 goals which read quite innocuous at first glance. But SD is the tool to create a new global economic order after the destruction of U.S. capitalism.
The Green New Deal, U.N. Agenda 21/2030, Smart Cities, Public-Private Partnerships, Regionalism, 15-minute cities, and the Great Reset of the World Economic Forum (WEF)
Patrick Wood has written about and discussed technocracy since the 1970s. He published many books and articles on the topic. He has argued for a long time that technocracy dominance and not communism is the true goal of the globalists. He wrote that United Nations established Sustainable Development (SD) as “an outgrowth of historic Technocracy from the 1930s.”
The Green New Deal, U.N. Agenda 21/2030, Smart Cities, Public-Private Partnerships, Regionalism, 15-minute cities, and the Great Reset of the World Economic Forum (WEF) are goals that must be accomplished at all costs. According to Patrick Wood, only then the population of the earth will be “micro-managed by a Scientific Dictatorship.”
The technocracy movement has been around since the 1930s. At the time, Julian Huxley, an English evolutionary biologist and a left-wing internationalist preoccupied with education, was the first director-general in 1946 of the newly created United Nations Educational, Scientific and Cultural Organization (UNESCO). His directorship only lasted two years instead of six. Catholic Americans objected to his idea of controlling population growth with birth control.
Edward Bellamy’s writings and the progressive engineers of the early twentieth century defined the technocracy movement. The term technocracy was invented in 1919 by William H. Smyth, an engineer from California, “the rule of the people made effective through the agency of their servants, the scientists and engineers.”
Howard Scott and other writers advocated that “businesspeople were incapable of reforming their industries in the public interest and that control of industry should be given to engineers.” He is considered the founder of the technocracy movement.
Technocracy is the science of social engineering
Technocracy Inc. proposed in 1938 that “technocracy is the science of social engineering, the scientific operation of the entire social mechanism to produce and distribute goods and services to the entire population of this continent [from Panama to the North Pole],… as a scientific, technical, and engineering problem.” Goods will be distributed by this technocracy by “means of a certificate of distribution available to every citizen from birth to death.” The various splinter organizations of the technocracy movement did not survive very long in New York and at Columbia.
During this time period, Aldous Huxley, Julian Huxley’s brother, wrote in 1931 and published in 1932 his dystopian novel Brave New World which is set in a World State in 2540 A.D. in the city of London, where citizens are environmentally engineered by science into a social hierarchy based on intelligence. Reproductive technology, sleep-learning, psychological manipulation, and classical conditioning create a frightening society. Unfortunately some of these imagined developments have come to fruition today, as science is already experimenting with and accomplishing objectionable futuristic goals.
Citizens in Huxley’s Brave New World are born through artificial wombs and children are indoctrinated into predetermined classes based on intelligence and the type of labor they are slated to perform. There are hatchery workers like Lenina Crowne. Citizens are kept calm and in check with a drug called ‘soma.’
Richard Gardner, a member of the Trilateral Commission (a non-governmental organization or NGO), wrote in 1974 an article for Foreign Affairs Magazine entitled “The Hard Road to World Order” in which he predicted the future of the Commission’s self-described New International Economic Order – “an end-run around national sovereignty,” “booming, buzzing confusion,” and building this Economic Order from the “bottom up” instead of an “old-fashioned frontal assault.”
This year, 2023, is Year One of this new global order
A Trilateral Commission member, which cannot be identified as per its rules, spoke at the New Delhi meeting on March 12, 2023, “Three decades of globalization – defined as integrated, free-market based and deflationary – has been replaced by what will be a multidecade period of globalization defined as fragmented, not-free-market-based but industrial-policy based and structurally inflationary.” This year, 2023, is Year One of this new global order.” Trilateral Commission calls 2023 ‘Year One’ of new world order – Nikkei Asia
In our Depraved New World where everything goes, the virtue signaling insane societal circus forces citizens to buy into the mental delusion and disease of a few men who think that they are women, that they can menstruate, have wombs, have babies, and compete in women’s sports. If we don’t, we are sent to a pariah status by our technocratic State.
The economy is in inflationary and energy shambles, we are invaded by citizens from 200 different nations through our borderless southern and northern crossings, law and order are worse than ever, education and medical care are lacking in this banana republic, and the traditional family and Christianity are heavily under attack. Who is going to save this Republic from implosion? Like the poet Juvenal wrote in his Satires, Quis custodiet ipsos custodes?
Dr. Ileana Johnson Paugh, Ileana Writes is a freelance writer, author, radio commentator, and speaker. Her books, “Echoes of Communism”, “Liberty on Life Support” and “U.N. Agenda 21: Environmental Piracy,” “Communism 2.0: 25 Years Later” are available at Amazon in paperback and Kindle.
Site Copyright 1997-2022 Canada Free Press.Com
To gain total power, the establishment has to make freedom and truth “dangerous”
Email by Brandon Smith
Email Sent Mar 22, 2023, 10:15 AM
Email via The Bob Livingston Letter [Published by Personal Liberty Media Group]
It’s no mistake that certain talking points seem to be repeated ad nauseam by politicians and media talking heads until they become a part of the common public vernacular. For example, most of us in the Liberty Movement never heard the term “alt-right” in our lives until around 2015-2016. Leftist media and even Fox News on occasion bandied the label like a broken record without ever really defining it. Soon, every leftist on social media was using it as a pejorative for anyone who disagreed with them.
Much like the terms “extremist,” “terrorist,” “deplorable,” “bigot” or “misogynist,” “alt-right” was the new catch-all attack against people who refused to comply with the establishment narrative. The goal, obviously, is to isolate anyone who opposes their agenda and inoculate the public with prejudice.
The message: Some people on the political right are OK. The people who follow our dictates and don’t question our actions and motives. Others are very bad, dangerous and unhinged and might be capable of anything. We don’t like those people. Be a good right-wing person, not an alt-right person. Anything they say is a lie designed to turn you to the dark side and radicalize you.”
The source of these character attacks is often hard to pinpoint but can usually be traced back to coordinated corporate campaigns, proving that the mainstream media is not in competition, they are in collusion. The COVID pandemic response was a perfect example; every single corporate outlet and every major social media outlet was in lockstep on the narrative without question and without skepticism.
And if we follow the trail back even further, we will usually find that the media relies on information scripted by government agencies and globalist think tanks like the Imperial College of London or the World Economic Forum during covid, for example. The WEF’s Event 201 “simulation” of a coronavirus pandemic, which was held only two months before the real thing happened, specifically discussed the need for coordinated information control and “flooding the zone” in social media with corporate sources to drown out any contrary data and viewpoints which they call “disinformation.” Check out this video at the 9:00 mark.
We can see the direct consequences of this agenda today. Try to search for any information on COVID on YouTube and all you will get is thousands upon thousands of corporate media propaganda pieces. No alternatives. This kind of uniformity and centralization of messaging is not limited to crisis events, however. It also extends to what I would call “counterinsurgency” propaganda, also known as “4th Generation Warfare.”
First, it’s important to understand one vital fact when it comes to these tactics of isolation and demonization: It is a mindset that views the general population as the enemy, rather than a foreign government or military. Beyond that, it is an indirect reveal of who the establishment fears the most.
Conservatives, liberty activists and patriots are targeted because we are a threat to the power structure. If we weren’t a danger to them, they would not waste their time, money and energy trying to tear us down. So, take that fact to heart. They hate you because they are afraid of you.
Second, their program of isolation is failing. Rather than shrinking into obscurity on the fringes of society, liberty groups (at least in the U.S.) are growing into the mainstream consciousness. Not only that, but every time the establishment oversteps and violates people’s rights our influence grows. More people had their blinders removed in the first two years of the pandemic lockdowns than in the rest of the nearly 20 years I have been working within the alternative media. They are beginning to lose, and they know it.
Predictably, and according to basic Alinsky tactics, the establishment is trying to shift to new messages and new methods. The media has been beating Americans over the head the past year with the claim that certain information and certain even certain freedoms are in fact a “threat to our democracy.” But what does this mean, exactly?
Well, it’s an Orwellian perversion of a fundamental pillar of our society: “In order to protect your freedoms, we have to take them away. Or at least take them away from certain people that disagree with our ideology.”
The “threat to democracy” argument has been used in everything from COVID vaccination, election skeptics, the takeover of Twitter by Elon Musk and the Jan. 6 protests. Now, we even have top political officials declaring that the release of previously restricted footage of the J6 event is a “threat to democracy.” Video evidence proving that an “insurrection” never happened could bring down our country, according to these people.
The calls for Tucker Carlson to be removed from Fox News and his reports silenced have been rampant. The new catch-all phrase “threat to democracy” is being swung wildly like a baseball bat in an Apple store. They claim it’s about maintaining faith in our election system, but really, it’s about maintaining faith in the establishment message. They are being exposed as foolish. They are being exposed as liars. If this continues, they might even face retribution, and that is what they are really preparing for.
When we hear incessant arguments asserting that the examination of facts and evidence is the same as “insurrection” it is because the establishment does in fact fear insurrection. Or more accurately, they fear rebellion.
There has long been a theory within the Liberty Movement that globalists would seek to create national division to deliberately instigate a civil war. The notion assumes that the money elites would be able to control the outcome in their favor. I disagree. I think what they really wanted was a minor insurgency, a small revolt of people they could simply label domestic terrorists that would be easily put down while at the same time using the chaos as an excuse to enforce unconstitutional provisions.
What they are getting is something much bigger than I think they expected. This is why they backed off the COVID mandates and the vaccine passports. They realized the movement to oppose them is much larger than a mere fringe.
The attempt to categorize certain speech, certain information and certain liberties as “anti-democracy” is a desperate measure to herd a large enough percentage of the population into a camp of rationalized tyranny. They couldn’t quite get enough people to support permanent medical authoritarianism, especially with the death rate of covid being so small, but maybe they can get a larger number of people to support greater control by appealing to their love of the democratic ideal?
Only people who are anti-freedom would want to rebel against a system based on democracy, right?
Except, our country is not a democracy and never was. We are supposed to be a Republic with individual rights protected regardless of the majority opinion. Beyond that, our system doesn’t qualify as a democracy anyway because our system is controlled through centralized influence of public opinion. You cannot have a majority rule when the majority doesn’t have access to factual information needed to make sound judgments.
The hypocrisy is evident. In order to “protect democracy” the elites claim that information must be controlled, and certain freedoms must be diminished. But in the process of instituting these controls, the information needed for a democracy to function is erased. All you have left afterward is technocratic oppression.
Freedom is not a threat to democracy. The truth is not a threat to our nation. Freedom and truth are only threats to tyrants. And if it becomes necessary to use truth and freedom to rebel, if it becomes necessary to destroy the corrupt systems tyrants have built, then so be it. That’s how America started, and we can always start over again.
To truth and knowledge,
America’s elites finally reveal their most hated enemy: Christians
Email by David Kupelian
Email Sent Mar 22, 2023, 7:01 AM
Email Sent Via WND
Dear friend of WND,
In case you haven’t heard, public schools in the United States of America are now opening up after-school Satan Clubs. Yes, you read that right. At the same time, Joe Biden just condemned any effort to stop the horrendous transgender surgeries mutilating America’s children as “close to sinful.” Meanwhile, a Minnesota lawmaker is complaining that “white Christians” who lovingly adopt needy Native American children are guilty of “genocide.”
I wonder if you detect the underlying reality behind these and so many of today’s news headlines?
As a Christian journalism organization, WND reports daily on the openly demonic agenda of the “Biden administration.” The ruinous inflation leading to the devastation of America’s economy and the current banking crisis, the intentional destruction of America’s fossil fuel industries, the intentional full-scale foreign invasion of America across our southern border, the perverse promotion of violent crime and the epidemic of fentanyl overdose deaths (the No. 1 cause of death for Americans 18 to 48), the weaponization of the FBI to harass, arrest and incarcerate Trump supporters, the orgy of grooming and recruiting America’s innocent kids into the ultra-dark transgender world, and so on.
But get this. Alongside all this unfolding degradation and rapid-fire societal destruction, something else remarkable is happening: The very same political, cultural and sexual revolutionaries responsible for today’s unprecedented chaos in America have finally dared to “come out” and publicly identify exactly WHO they consider to be their biggest enemy.
That’s right, Christians are the enemy. That’s the hidden subtext to all the headlines, trends and outrages.
For years they’ve been beating around the bush, condemning conservative Christians with epithets ranging from “Trump supporters” and “white supremacists” to “the unvaccinated” and some mysterious entity called “QAnon.” Some of their attacks have been staggeringly stupid – like branding parents as “domestic terrorists” for standing up and complaining at school board meetings about teachers brainwashing their 6-year-olds with Marxist critical race theory. It seems that somehow every decent, patriotic, traditionally minded American these days is demonized as a “violent extremist” for one reason or another.
Now we know why.
Finally, the ruling elites have grown sufficiently brazen to openly identify the one group they consider as the TRUE AND ULTIMATE enemy of America, and that is sincere biblical Christians.
* “It’s becoming increasingly clear that the United States is under siege by Christian fundamentalists and traditionalists!” warns MSNBC’s Ja’han Jones.
* “Christian Nationalism Is The ‘Single Biggest Threat’ to America’s Religious Freedom,” announces the Center for American Progress.
* “[The Republican Party is] a movement dedicated to imposing White Christian nationalism,” insists the Washington Post’s pretend “conservative,” Jennifer Rubin.
* “If Christian Nationalism isn’t essentially domestic terrorism, then I don’t know what is,” opines Cari Marshall of the Texas Democracy Foundation, who goes on to explain the methods of all those supposedly violent Christian extremists: “They simultaneously weaponize the Bible and the Constitution to justify their wanton disregard for the views and safety of others and their insatiable lust for weapons and violence.”
Allow me to translate.
What’s REALLY happening is the ruling elite’s fear and loathing of Christianity – you know, the faith that once made America the freest and most wonderful nation in history, the once-widespread belief that the Ten Commandments and the Sermon on the Mount provide the basis for a good life and a strong, healthy, truly decent society – that hatred is now boiling over.
To the hard Left, Christians ARE racists … and Nazis, and terrorists and fascists. (Or as Biden called conservative Christians during one recent speech, “semi-fascists.”) But in reality, what’s actually going on is that the Left has always been at war with Almighty God and His laws and His ways. They are in perpetual rebellion against the Creator of the Universe, because Marxism – by definition – amounts to hatred and rejection of God so that human “saviors” can create paradise on earth. With them in charge, of course. That, in turn, always ends up being hell on earth, with the 20th century the bloodiest in all of human history, thanks to the very types of God-hating utopians who, right now, are maniacally obsessed with ruling America.
Today’s finally-out-in-the-open hatred of Christianity and Christians explains a lot – including the unprecedented censorship, vilification, demonization and cancellation of genuinely conservative, Christian, pro-American voices. Which of course includes the ceaseless attacks on WND, America’s original independent online Christian journalism organization, now weeks away from launching into its 27th consecutive year of 24/7 operation.
In fact, it explains in a dramatic way why we at WND are experiencing another huge wave of attacks on us as we, as Christian journalists, (figuratively) stand on the rooftops daily and shout the truth in the midst of a political culture steeped in lies and evil.
I won’t burden you with a detailed litany of all the attacks we’ve endured. You’ve heard many of them before – all the Big Tech banning, demonetization, suppression, defamation, destruction of our advertising and so on, including a few months back Google’s unprecedented 11-day global blacklist of WND.
Without listing the many challenges we’re still facing, I just want to appeal to you to understand – and hopefully act on that understanding – that in the current openly anti-Christian era, the ONLY way a bold Christian news organization can possibly carry on is with strong support from those who value its continued existence.
There’s simply no other way forward for us – we have no billionaire sugar daddy like George Soros, and Big Tech has pretty much wrecked the advertising-based business model for news that supported us for years. In truth, a LOT of people are gunning for us. The only countervailing force that can save us from the continual, multi-pronged assault on our existence … is YOU.
So if you value and appreciate WND and want to see it continue, please support us financially. It is just as simple as that. There is no other way we will be able to carry on.
The grace of God and the generosity of donors has gotten us this far. Thank you sincerely for all your past support.
But we need your ongoing help, to cover our costs and make payroll for our fantastic group of journalists, all of whom have taken significant pay cuts and missed paychecks entirely, yet who have stayed with us for the past two decades!
Here’s how you can help:
Please prayerfully consider making a generous tax-deductible donation to the 501c3 Christian nonprofit charity, the WND News Center. You can make either a one-time donation or a monthly recurring donation, by credit card or PayPal. Whatever you can do is enormously appreciated.
You may also mail your tax-deductible contribution by making your check out to “WND News Center” and mailing it to: WND News Center, P.O. Box 100, 580 E Street, Hawthorne, NV 89415-0100.
For still other ways to help, please check out HELP WND.
Thank you so very much for helping in any way you are now moved to, during this tumultuous but critically important time for us all.
May God bless you and yours,
Editor in Chief, WND News Center
Editor, Whistleblower magazine
Author, “The Marketing of Evil,” “How Evil Works” and “The Snapping of the American Mind”
Copyright 1997-2023 WND.com Inc. All Rights Reserved.
Bitchute VIDEO: INSIDE THE ECONOMIC RESET
Posted by Greg Reese
First Published March 23rd, 2023 15:04 UTC
Federal Reserve announces July launch of central bank digital currency infrastructure
A financial expert has warned that FedNow lays out the foundation for a central bank digital currency by centralizing all participating banks under the Federal Reserve.
Federal Reserve Chair Jerome Powell – CNBC Television / YouTube
Mar 17, 2023 – 1:59 pm EDT
(LifeSiteNews) — The Federal Reserve on Wednesday announced a July launch of its FedNow service, which will enable all U.S. banks to offer instant payments 24/7, and will constitute the infrastructure of a central bank digital currency (CBDC) by linking each banking node directly to the Federal Reserve, according to financial experts.
FedNow “will enable all the banks — any bank in the United States, not just the big ones — to offer instantly available funds in real-time payments to their customers”, explained Fed Chair Jerome Powell before the House Financial Services Committee on March 8.
According to a Federal Reserve press release, “many early adopters” plan on using the FedNow service in July upon its launch, “including a diverse mix of financial institutions of all sizes, the largest processors, and the U.S. Treasury.”
However, FedNow program executive Ken Montgomery noted that “growing the network of participating financial institutions will be key” to greater availability of the FedNow service.
Cointelegraph pointed out that FedNow could “stand in place of a central-bank-issued digital currency.”
While Federal Reserve Vice Chair Lael Brainard maintained during a House of Representatives Committee on Financial Services hearing in May that a CBDC could take five years to launch due to needed security and design features, she added that FedNow will still serve many of the same functions as a CBDC, according to the financial news outlet.
Financial advisor Joe Brown has warned that FedNow serves as the foundation, or “infrastructure” for a CBDC, bringing the country only a step away from deployment of a central bank digital currency once the FedNow system is fully functioning.
Regarding FedNow, Brown explained on his video blog, “This infrastructure bypasses a lot of the need for the current banking infrastructure, which is the purpose of a central bank digital currency.”
“Eventually, every single economic participant has an account directly with the Federal Reserve, the central bank, and then you don’t need any of the decentralized nodes of the financial system, the previously existing banks,” said Brown.
“This transforms the purpose of the entire banking system really into infrastructure for the CBDC,” he continued, noting that it would “centralize everything under one roof.”
“And once that system is built, once all the kinks are worked out of the system … then they will have the foundation in place to build the Gen 2, the Version 2 CBDC on top of it. The only thing that would be left to do would be to have everybody open an account directly with the Fed.”
Brown believes the foundational CBDC technology is being rolled out “slowly” and independently of a full CBDC so that it doesn’t “look like a power grab.”
“Otherwise everyone would reject it. Everyone in their right minds would look at this thing and say, ‘Absolutely not,’” noted Brown, adding that the gradual implementation is also needed to test its component parts in “baby steps” and make sure the CBDC doesn’t fail “flat on [its] face.”
“But make no mistake, a central bank digital currency is coming and it looks like this new FedNow service is just the launch of the infrastructure for launching the full version of the CBDC later on,” said Brown.
Critics have increasingly warned in recent years that CBDCs enable full-blown tyranny by allowing the government to restrict or even freeze a citizen’s purchasing power, thereby coercing its constituents into submitting to its decrees.
© 1997-2023 LifeSiteNews.com. All Rights Reserved.
The World’s Largest CBDC Trial: A Preview of the Elite’s Cashless Vision for You
Posted by Administrator
Guest Post by Nick Giambruno
March 21, 2023
The eNaira is Africa’s first central bank digital currency (CBDC).
Central bankers, academics, politicians, and an assortment of elites from over 100 countries hoping to launch their own CBDCs have closely followed the eNaira.
They used Nigeria—Africa’s largest country by population and size of its economy—as a trial balloon to test their nefarious plans to eliminate cash in North America, Europe, and beyond.
Are you concerned about CBDCs?
Then you should be paying attention to what is happening in Nigeria.
That’s because there’s an excellent chance your government will reach for the same playbook when they decide to impose CBDCs in your area—which could be soon.
CBDCs enable all sorts of horrible, totalitarian things.
They allow governments to track and control every penny you earn, save, and spend. They are a powerful tool for politicians to confiscate and redistribute wealth as they see fit.
CBDCs will also enable devious social engineering by allowing governments to punish and reward people in ways they previously couldn’t.
CBDCs are, without a doubt, an instrument of enslavement. They represent a quantum leap backward in human freedom.
Unfortunately, they’re coming soon…
Governments will probably mandate CBDCs as the “solution” when the next real or contrived crisis hits—which is likely not far off.
That’s why you must pay attention to what is happening in Nigeria. That way, you can know what to expect and take preventative action.
Here are the top five insights from the eNaira.
Insight #1: Don’t Take the Bait… Reject CBDC Incentives
In Nigeria, the government implemented discounts and other incentives to increase the adoption of eNaira.
In North America and Europe, expect the government to require CBDCs to receive welfare payments, a potential universal basic income, so-called “inflation relief checks,” or whatever the next cockamamie scheme is.
Think of these incentives like the cheese in a mousetrap.
Insight #2: Simultaneous Moves To Eliminate Cash
To help boost eNaira adoption, the Nigerian government announced a plan to remove the legal tender status of various high denomination bills, rendering them worthless.
According to the World Bank, over 55% of the adult population in Nigeria does not have a bank account and is dependent on physical cash.
The Nigerian government must have known phasing out cash would be a disaster for a majority of the population, but they plowed ahead anyways—so much for democracy.
When your government imposes a CBDC, expect simultaneous measures to force people out of cash, regardless of the costs.
Those measures could come in many flavors, but I would bet they would first look to phase out large denomination bills by removing their legal tender status.
We’re already seeing this happen…
For example, the EU has already phased out the 500 euro note.
The $100 bill is the largest in circulation in the US, but that wasn’t always the case. At one point, the US had $500, $1,000, $5,000, and even $10,000 bills.
The government eliminated these large bills in 1969 under the pretext of fighting the War on (Some) Drugs.
The $100 bill has been the largest ever since. But it has far less purchasing power than it did in 1969. Decades of rampant money printing have debased the dollar. Today, a $100 note buys less than $12 in 1969.
Even though the Federal Reserve has devalued the dollar by over 88% since 1969, it still refuses to issue notes larger than $100.
With CBDCs on the horizon, I think the US government will not only never issue another bill higher than $100 but will probably look to phase out the $100 bill under various pretexts.
Insight #3: Bank Restrictions
Most people think of the money they deposit into the bank as a personal asset they own.
But that’s not true.
Once you deposit money at the bank, it’s no longer your property. Instead, it’s the bank’s, and they can pretty much do whatever they want with it.
What you really own is the bank’s promise to pay you back. It’s an unsecured liability, which makes you technically and legally a creditor of the bank.
And since the banking system is intertwined with the government everywhere, it’s only prudent to expect governments to place more restrictions on bank accounts as CBDCs debut.
This is exactly what happened in Nigeria.
Cash withdrawal limits and debit card transaction restrictions were imposed, among other measures. In addition, capital controls made it challenging to send money out of the country.
I wouldn’t be surprised to see the forced conversion of bank deposits into the eNaira—at an unfavorable rate.
Here’s the bottom line. Expect all sorts of restrictions—and possible confiscations—to be imposed on bank accounts when a CBDC is released.
Insight #4: Rising Inflation
Amid the eNaira rollout, Nigeria is experiencing some of the highest inflation levels in its history.
This is not surprising. CBDCs make it even easier for the government to debase the currency.
So, it’s reasonable to expect more inflation when CBDCs come to town.
Insight #5: Social Unrest
In another predictable development, frustrated Nigerians took to the streets over the government’s actions to restrict cash and bank accounts. There was a violent scramble to exchange old notes before the government deemed them worthless. Riots broke out in several locations.
There’s an excellent chance the destructive restrictions imposed alongside CBDCs could create social unrest anywhere.
To summarize, here are the top five insights from Nigeria’s CBDC experience.
Insight #1: Don’t Take the Bait… Reject CBDC Incentives
Insight #2: Simultaneous Moves To Eliminate Cash
Insight #3: Bank Restrictions
Insight #4: Rising Inflation
Insight #5: Social Unrest
As CBDCs come to your neighborhood, you now know what to expect.
Governments will probably mandate CBDCs as the “solution” when the next real or contrived crisis hits—which is likely not far off.
There’s an excellent chance more inflation and financial chaos is coming soon.
Are you ready for it?
That’s why I just released an urgent PDF guide, “Survive and Thrive During the Most Dangerous Economic Crisis in 100 Years.” Download this free report to discover the top 3 strategies you need to implement today to protect yourself and potentially come out ahead.
[Blog Editor: The report is indeed free. The catch is International Man collects your email leading to future marketing emails. If you are curious yet decide you don’t like the continuing info, you can always unsubscribe. The info this post is accurate so you may indeed wish continuing education. It is still up to you choice wise. YOUR government might decide your future choices for YOU.]
With the global economy in turmoil and the threat of a “Great Reset” looming, this guide is a must-read. Click here to download it now.
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